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mohamed morsi returned to cairo palace after fleeing last night. tens of thousands of protesting the constitution, the trap is set for a vote on december 15. riot police have been deployed to separate supporters and opponents of president morsi. anti-morsi protesters that he is stripped judiciary of power and rushing through his constitution backed by largely islamist handle. egyptian president has said the referendum vote on the constitution draft will go on as planned despite protests. lori: it is a shocking. unreal. melissa: paying the price for hurricane sandy, fema asking for more money to foot the bill. how does the federal government plan to pay for this? lori: the social networking site moving up in the world. how investors could benefit the head. want to try to crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attentio which is why we are proud to partner with health care professionals who understand the difference that quality time with our members can make... that
ceo of pimco mr. mohammed el-erian. welcome back. >> thank you, bill. >> and i've given you your first question. i gave it to rick earlier. we've seen this rise in yields even as the fed met to try to bring rates down some more. even as the fiscal cliff negotiations continue on. you'd think there'd be a rush to these safe havens. that's not happening. have we seen the low for the treasury yields for the foreseeable future? >> it depends which bend of the curve you're talking about. if you're talking about the 10 year point, we would agree with rick. looks like a range between 1.6% and 2%. and the language of keeping interest rates at zero. the long end is going to be volatile and more dangerous. it depends where on the curve you. >> so -- i'm sorry? >> it was interesting. this was brought up by one of our portfolio managers this morning. the fed's statement was hawkish last wednesday. we don't agree. what the fed tried to do is provide greater clarity to the markets. >> right. >> but that had been misinterpreted as it being more hawkish. we don't think that is the case. >> so all of th
mohammed al ariane has probably been more of a proponent of the new normal. i don't know whether that's a pimco idea, the firm that pimco came up with following the fiscal crisis -- not the fiscal -- financial crisis. if you still believe that, what if we never get to 6.5%. >> well, hi, joe. it's great to see you. you're exactly right. just a month ago chairman bernanke for the first time acknowledged that the u.s. has structurally lower economic growth. but we've been calling the new normal for the last few years. and you're exactly right. that means the fed, if you combine that with yesterday's announcement, that means the fed is going to be exceptionally easy for a long time, and that it could be a couple years or could be three, four years, maybe even longer, because unemployment is now structurally higher. we hope it's 6.5% is not the new naru, the new minimum unemployment. certainly it is increasing. the longer people stay unemployed the more structural it becomes. the fed is really in a box here. they're trying to engineer financial market outcomes. trying to raise the prices o
indefinitely after supporters of president mohammeds mo morsi prevented judges from entering the building. >>> a strong warning today from secretary of state hillary clinton to the syrian government over the potential use of chemical weapons. one official in the obama administration told cnn there are worrying signs that syria may be considering the use of such weapons against rebels. new this morning, this mayor of this town along the border with turkey told cnn that jets dropped two bombs wounding several people. >>> it is 18 minutes past the hour. we are getting an early read on your local news making national headlines this story from "the boston globe." a year after the paper found that stores and restaurants across massachusetts were intentionally mislabeling fish. guess what? the practice continues. dna testing shows some business are showing cheaper, lower quality fish instead of what is written on the label. in one case, slices of what were supposed to be white tuna at a sushi shop were an oily species of fish that can cause digestive issues. that's terrible. >>> the "new york ti
offered nothing concrete to diffuse the worst political crisis in nearly two years. >> mohamed morsi addressed the nation, trying to soften his position that has angered protesters over the last several days. in fact one of the sticking points that has been fueling these proce protests has been a decision that was issued by morsi. today he tried soften his position by saying that his decisions were in fact subject to judicial review, but he also wanted to try to solve then other positions that have been fueling some of the protests. he said the constitutional referendum scheduled for december 15th would go ahead as planned, but if it fails, there would be a new assembly. more importantly, he's now reaching across the political divide to meet with some of the country's political opposition figures. they say they will not necessarily meat with the president until that decision, at least that decree, is rescinded. they're still going ahead with calls for friday's million man march and outside the presidential palace, hundreds of protesters gathered for a third straight day following two
, almost looking at quarters. mohamed el-erian from pimco said he was worried about the third quarter reporting season because there was a finite about about what companies could do from the top and they had to focus on the top line. so in october, however, we saw a bit of a recovery from q3. and our flash figures were 2%, 2.5% in october. we have not told the market what we did in november, but it was better than october. and so we've ended up, you know, towards the end of november, after november, up by 3%, a little bit more than 3%, actually. >> yeah. >> and december, we have to wait and see. because we get another attack he of quarter-itis, so you have to be very careful. >> any lessons to be learned at all? is anything to go going to be next year than what it was? >> caution prevails. we have these gray swans, the unknown unknowns. we don't know what's going to happen. but the known unknowns are clearly the eurozone we're talking about, which will muddle through. china ma had soft landing. brics had a soft landing. the third area is in the middle east which you know a lot about,
instead of looking at calendar years almost seemed to be looking at quarters. mohamed el-erian said he was worried about the reporting season because there was a finite number of what companies could do in terms of cost. a number of companies missed the top line forecast, not so many the bottom line as the top line. so in october, however, we saw a little bit of a recovery from q3. and our flash figures were 2% and we did 2.5% in october. we have not told the market what we did in november, but it was better than october. and so we've ended up, you know, towards the end of november up by 3%, a little bit more than 3%, actually. and december, we have to wait and see. >> i've seen that you're continuing the plans in china and in particular from what i can tell. >> absolutely. >> are you going to try and diversify them further? >> well, if i do have any regrets -- and i've had a few over the years that i'm willing to admit publicly -- it would be that we didn't have enough of our operations in britain and that we didn't have enough in asia and latin america, africa and the middle east and
of that financing model. i think at some point next year it will probably break down. >>> president mohammed morsi has congratulated egyptians for a new constitution. in a tv address to the nation, mr. morsi said changes maybe necessary. the document is too islamist and has rejected the call for dialogue according to some. >>> a super winter storm that pounded the southeast and midwest is now pounding the northeast. the storm has created havoc on roads and at the airports and this as people start returning home after christmas. more than 1800 u.s. flights have been canceled since tuesday. makes the fact that a lot of usair line stocks were at 1 1/2 year highs yesterday. >>> a u.s. federal jury has found martel in patent violations. carnegie mellon sued marvell in 2009. the company is now hopeful the judge will reverse the verdict, but says lit plan to appeal. marvell shares were down 15% in frankfurt today. you can see investors are not sure they'll be able to appeal that one. shareholders could face high losses, but the so-called frob does not specify just how much the equity would be diluted. it
. >> as mohamed el-erian said, it's the new normal. nothing is going to happen next year in all probability. there will be the italian electrics. if berlusconi starts to poll better in a run up to the italian elections, which i think will happen, then you're likely to see bonds markets reacting a little bit to that. that could cause problems in the spanish and italian yield curve. so maybe that would that will trigger mariano rajoy asking for a bailout. anything which happens on the policy front, anything which happens in the next few months is going to be weighed for its impact on the election prospects come next september. >> you're lucky because we have a whole lot more europe after the break. we can continue to talk about all things european. but of all of this talk about the cliff, if it hasn't sent you over the edge yet, head on to our website and take the cliff quiz. see if you can match the right quiz with a number of things in. >> you can also take a look at what's on the agenda today in the u.s. a couple of economic reports wrap up the week. both due out at 10:00 a.m. eastern. the
elections. >>> demonstrations raging in egypt as president mohammed morsi and the muslim brotherhood push through a new hard-line islamist constitution. egypt's high court suspending its work indefinitely when morsi's supporters prevented them from entering into the courthouse to rule on the constitution. those are the headlines. back to tracy. tracy: lauren green, thank you very much. auto companies reporting strong november sales today. ford, chrysler, toyota and nissan and hyundai reported strong sales due to hurricane sandy. jeff flock is in chicago with more. hey, jeff. >> i think it is, sandy and we all thought it was going to be. now barclays and as well as ford said they think about 30,000 new vehicles more than normal were purchased as a result of hurricane sandy did. trashed a lot of cars out there. that is just the way it goes. some of course did better than others. here's the deal. there is a lot of reasons to buy a car right now. interest rates low. credit much more available. new technology out there sparking people to, you know, to buy new cars that have the new technology
Search Results 0 to 9 of about 10